Are you considering investing in property in South Africa but have questions about how to get started? At InvestRand, we understand that making informed decisions is crucial for your investment success. Here are the most frequently asked questions about property investment with InvestRand, answered in detail.
Real Estate Investment Requirements
1. How much is needed to start investing in property?
Answer: At InvestRand, we have specific criteria to assess if a potential client qualifies to start investing in property.
You need to be employed, have affordability to qualify for a bond, no red flags on your credit profile, and a credit score above 620, with at least R70,000 in disposable income.
For self-employed individuals, your business must have two years of financials.
Our marketplace streamlines this process, making it easier for you to understand and meet these requirements. Find out how much you qualify for here.
2. Can I invest in property with a salary of R30,000?
Answer: Your income may not be the only determining factor. You need enough savings to cover buying costs such as bond registration fees, sourcing fees, and transfer fees. Having sufficient funds to cover the entire purchase price is crucial if the loan approval falls short.
3. How can foreigners invest in property in South Africa?
Answer: Here are the required documents to invest in property as a non-citizen in South Africa:
Copy of ID document & Passport, or copy of the front and back of your ID.
Valid work permits.
Latest 6 months pay slips.
Employment contract
Latest 3 months NON-INTERNET bank statements reflecting salary deposits and signed IDX form.
Signed Personal info, Income & Expenses and Assets & liabilities forms.
Latest copy of lease agreement if rental income is received as well as 6 months bank statements confirming rental income.
If you want to invest in property in South Africa, book a free call with us.
4. How much is required to start investing in property?
Answer: To start investing in property, you need at least R70,000 for buying costs, a bond qualification, and a credit score above 620. Visit our marketplace to view properties and their buying costs. If you meet these requirements, we can assist you in your property investment journey.
5. Do I need money to invest in property?
Answer: Yes, you need at least R70,000 for buying costs and to qualify for a bond or partner with someone who does. Watch our detailed video on this topic here.
Types of Real Estate Investments
6. Do you offer Airbnb rental investments?
Answer: No, we do not offer Airbnb rental investments at the moment. Currently, we focus on profitable multi-let properties in affordable housing and student accommodation. However, we may incorporate Airbnb rentals soon, so be on the lookout.
7. If I invest R30,000, how much do I get monthly?
Answer: The returns on your investment vary based on the property's value and your investment strategy. For instance, if a property is worth R700,000, you may need to purchase it via a bond if you cannot buy it outright. Each property investment offers different returns based on its specific financials and market conditions.
8. Tell me more about property investing.
Answer: Investing in property is one of the safest ways to grow your assets and build wealth for your family. At InvestRand, we offer various profitable multi-let properties and connect you with financing options and vetted service providers to ensure a seamless investment experience.
9. Do you only have student accommodation properties?
Answer: No, we also have various multi-let properties such as apartments.
Real Estate/Property Management
10. Does InvestRand handle finding, vetting, and collecting deposits from tenants?
Answer: Yes, InvestRand does more than just connect you with profitable investment properties. We understand that managing the property can be challenging, so we match you with vetted service providers, including specialist letting agents and property managers, who handle the day-to-day running of the property. Our platform also allows clients to rate these service providers, ensuring high-quality management.
11. I want to be part of the investors. How can I join?
Answer: We are happy to help you build wealth through property investment. To join our community of investors, please book a free call with us. Our Property Investment Consultant will guide you through the process and help you get started.
12. Do you assist with securing funding for property investments?
Answer: Yes, InvestRand helps clients secure funding for property investments. We assist with applications to various institutions, including SA Home Loans and major South African banks, to finance the properties you find on our marketplace.
13. Do you help with placing tenants?
Answer: Yes, we partner with vetted property managers who can help place tenants in your property.
14. How do I become a service provider on the platform?
Answer: Contact us at info@investrand.co.za or +27 87 114 0575 to become a service provider on our platform.
15. Should I take a loan after the bank has approved my bond?
Answer: Avoid taking any loans while waiting for the property to register, as it can affect your expenses compared to when the bank granted you the loan/bond.
Viewing & Purchasing Property
16. How soon can I view the properties I am interested in?
Answer: We arrange viewings for pre-qualified investors. Book a free call with our Property Investment Consultant to create your investor profile and complete the pre-qualification process. Once you meet our minimum requirements, we can arrange viewings for the properties you are interested in.
17. What happens after I put in an offer to purchase?
Answer: After submitting an offer, our Sales Representative will contact you to schedule a call and perform a pre-qualification check. If you qualify, we inform the seller and arrange property viewings if desired. Once the offer is accepted, we assist with securing funding from banks.
18. How do I list my property on the InvestRand platform?
Answer: Email us at info@investrand.co.za with all relevant documents for due diligence. Once approved, we will list your property on our marketplace.
19. Do you only have properties in Gauteng?
Answer: Currently, our focus is on Gauteng, but we plan to expand our geography soon.
20. Do you offer courses and seminars?
Answer: No, but we offer a free guide to help you with questions about real estate investing. Get The Ultimate South African Property Guide.
About investRand
21. How do property investments work at InvestRand?
Answer: InvestRand’s marketplace connects you with income-generating properties that are cash flow positive based on your profile. We also provide financing options for the properties you find on our platform and connect you with vetted service providers. Book a free consultation call, create your investor profile, and get matched with properties that fit your investment goals. We guide you through the entire process, from buying to managing your property.
22. Where are your offices located?
Answer: Our offices are at Saint Andrews Office Park, OB Meadowbrook Ln, Epsom Downs, Bryanston, Johannesburg. We provide services to anyone who qualifies, regardless of their location. To get in contact with us, please book a free call.
23. Can we invest in one property but share the amount needed?
Answer: Yes, you can invest in a property with others and share the investment costs. This partnership will require a contract and a memorandum of understanding to prevent future conflicts. InvestRand helps clients structure their partnerships and/or investment clubs effectively.
24. How often do you upload properties on the platform?
Answer: We upload properties that meet our investment criteria. Our best deals are often bought by qualified buyers before reaching the platform. We recommend getting pre-qualified and joining our investor waiting list for first preference. Find out how much you qualify for here.
25. Can you help me sell my property?
Answer: Yes, we connect property sellers with investors. However, we do not guarantee that your property will be sold.
Investing in property can be a rewarding way to build wealth and secure your financial future, but it's essential to be well-informed and prepared. At InvestRand, we strive to provide you with the knowledge and resources you need to make smart and confident investment decisions.
Whether you're just starting out or looking to expand your property portfolio, our team of experts is here to guide you every step of the way. Don't leave your investments to chance. Book a free consultation call with our Property Investment Consultants today, and let us help you navigate the world of property investment with ease and confidence.
Note: The content in this article is based on research and intended for informational purposes only. Always consult with professionals and conduct your own due diligence before making any investment decisions.
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